NAFCU Congressional Caucus Canceled, Coastal CUs Close, as Hurricane Florence Approaches

Credit unions closing on the North and South Carolina coasts as mandatory evacuations are activated.

Hurricane Florence, a strong storm approaching the eastern seaboard has forced NAFCU to cancel its annual Congressional Caucus for this year and for credit unions in North and South Carolina to shutter branches until the storm passes.

NAFCU on Tuesday afternoon canceled its Washington, D.C. caucus, which had been expected to bring together members of Congress and credit union officials from across the country.

Hurricane Florence is expected to make landfall late Thursday between Charleston, S.C. and Virginia Beach, Va. More than one million people along the coast in Virginia and the Carolinas have been told to evacuate. The Category 4 hurricane has the potential to blast the coast with the strongest hurricane to hit the East Coast in decades.

The storm could produce between 15 and 20 inches of rain, the National Weather Service said, although some isolated areas could receive as much as 30 inches of rain.

The approaching storm also forced the Senate Banking Committee to postpone its Thursday hearing on implementation of the recent regulatory overhaul legislation.  NCUA Chairman J. Mark McWatters had been scheduled to testify at that hearing, which has now been rescheduled for Oct. 2.

The Carolinas Credit Union and the Carolinas Credit Union Foundation said they were preparing to support credit unions, staff and volunteers affected by the storm.

The foundation was preparing to distribute aid to affected employees and volunteers through its disaster relief grant application process. It also was ready to accept contributions to its Disaster Relief Fund.

In addition, the CUNA Mutual Group has activated its disaster team. That team will contact affected credit unions and provide information concerning how to report claims.

North Carolina’s State Employees Credit Union is likely to close branches and the institution’s critical response team has been meeting, Leigh Brady, the credit unions executive vice president for organizational development said.

Other credit unions have been announcing their closings on their websites.

For instance, the South Carolina Federal Credit Union closed its Charleston and Georgetown financial centers on Tuesday.

And the Boeing Employees Credit Union closed its South Carolina operations, as the Boeing plant in that state suspended operations on Tuesday.